roberth1970

We set ours up through HSBC US. The UK were useless and uninterested, as I wasn't a HSBC customer.

I contacted HSBC in the states and they set the account and credit card up for me, mailed the cards etc. to my work address. I got a credit card with a decent limit.

All in all I'm quite pleased with them so far.

The US banking system seems a bit antiquated, however.

GeoffM

You know, I was going to do the latter, as recommended by others here. When the used car dealer said she knew somebody who did insurance I tried to explain that expat car insurance was going to be expensive. But the quote came back as $80/month with $200 down, i.e. $680 total for 6 months for a 2005 Dodge Grand Caravan for wife and I. My wife's cousin (local all American bloke) looked over the coverage and said it was decent enough. Considering others here have said that $800 or less would be good coverage for new expats, $680 seemed quite reasonable. So I bought it! Not even having a CA license (at the time) mattered. Most definitely a local broker rather than direct with a big national though.

Mr Weeze

I'm tempted to start looking, but they also gave me the cheapest renters insurance, and I am also able to add family members onto the car for very cheap. I'm sure it's possible, but it gives me more flexibility. Well done for finding it though - don't disagree that the nationals are a con!

GeoffM

RE renters' insurance, at around $15-20 a month as reported by others on here it wasn't worth working too hard to find a cheaper deal, I thought*. I started with State Farm which came up with $16 (I upped the minimums slightly), filled out all the forms, only to find that an agent would call me - a week later, still no call. The next day I randomly selected Liberty Mutual who were $18 but got covered within hours - and online, no agent.

* I get paid by the hour so if I'm out shopping I don't get paid**. Time is quite literally money!
** I don't get paid when I'm on this website either. Oops.

mum 2 3

I just got a call from the international team at HSBC (I rang FD Saturday) I have filled in an application over the phone and they have emailed me it to print off and take ID's into my local branch. So far so good.

TangoBlue

It's great to know First Direct customers are also being offered the international services. While First Direct are owned by HSBC, they have no mention of opening accounts overseas.

For the First Direct customers, did you also have a HSBC account?

mum 2 3

I don't have a HSBC account only First Direct, it was only from on here I became aware of the possibility of getting a US account opened whilst still here. Since last post have now received a call from my local manager inviting us in to complete the process. (well continue is more likely) Feeling like royalty at the moment

TangoBlue

Great to know, thank you. I did message first direct but was told they only offer banking in the United Kingdom. I'm guessing it's HSBC International Team who would be the ones who know about the overseas accounts etc.

dlake02

That is not because you are royalty, but because as with a number of bureaucratic processes over here, the US is way behind the rest of the western world.

Their are just too many people employed here doing pointless, paper-based, process-driven activities, and the bank manager is one of those.

HSBC are useless beyond any form of uselessness if you compare to banks in the EU, but they are one of the better US banks.....

Don't expect on-line banking that is truly on-line, electronic transfers that happen quickly, card transactions that clear in minutes or accuracy in your statements. Or a decent rate of interest.

Now, if there was TRUE competition in the US, someone like Smile, IF, Virgin Money, etc, would come in and reek merry hell in the cozy US banking system.

Sound bitter ? Yep - my bank manager managed to deduct our rent to the tune of 4 times the amount one month, 3 times another, thereby taking me horribly overdrawn and causing our electricity to nearly be cut off and the car insurance not to be paid. I'm now a Bad Customer at the insurance company, and they put my rate up by $5/month....

I now phone my bank every morning and keep a log of exactly what transactions are coming in since the night before when I check the account on-line (they don't appear on-line for sometimes up to 48 hours).

kodokan

We've been First Direct customers in the UK for years. When we moved over here we were able to set up a US cheque account and credit card in advance of our move. This was done through the HSBC International team, but they seemed to be able to do some sort of in-house thing to check our customer history with FD, and were consequently willing to give us a proper credit card with a generous credit limit from Day One, which has been enormously helpful.

(This was with HSBC Premier, in case it differs for the regular service.)

TangoBlue

How much did they charge you for opening the US account if you're a first direct customer, as they charge anything from £0 to £100 for HSBC customers (depending on which account you have).

kodokan

No charge to open the accounts; didn't realise this was even a possibility.

TangoBlue

That's great news. I'm a first direct customer, but have an account with HSBC also. It's interesting to know it's free if I use my first direct account, but costs me £50 if I use my HSBC account.

kodokan

Ah, that might be a Premier/regular account difference; don't get too excited if you're planning a regular one!

TangoBlue

Ah, I see. I believe there is a minimum balance needed of £50k (or US equivalent) for the premier account. Maybe I need to start saving...